Volvo: ‘Fully electric’ vehicles may account for 50% of company’s sales by 2025

In a recent clarification of its plans related to electrified vehicles, Volvo Cars has announced that it is aiming for 50% of its sales to be ‘fully electric’ by the year 2025. After Volkswagen and Nissan, Volvo has given an impressive target of 50 percent sales in EV segment. Considering the latest viewpoint of automobile management regarding EV segment, consumers can expect wider electric car options within 2-3 years.

The announcement was made by Volvo Cars’ president and Chairman Håkan Samuelsson at the 2018 Beijing Auto Show.

The clarification of Volvo’s electrification plans has come in reference to a 2017 announcement by the automaker that it will go “all-electric” by the year 2019. However, the automaker actually planned to add electric motors to all its models by the mentioned timeline. Incidentally, as of now, Volvo does not have a fully electric vehicle, though it is likely to launch an all-electric XC40 compact SUV in the near future.

The new announcement by Samuelsson, about Volvo’s projections that ‘fully electric’ vehicles will account for one-half of the company’s sales by 2025, underscores a notably much more aggressive aim that the mere addition of ‘electric’ options to each model.

Drawing attention to the fact that, in 2017, Volvo had “made a commitment to electrification in preparation for an era beyond the internal combustion engine,” Samuelsson said at the Auto Show that the last-year commitment is now being reinforced and expanded by the automaker in the world’s leading market for electrified cars, and added: “China’s electric future is Volvo Cars’ electric future.”

In a recent announcement, U.S. retailer Target has revealed that it is teaming up with Electrify America, Tesla and ChargePoint, for deploying “more than 600 chargers” at “over 100 stores” across the country.